Watertown (Mass.) Contributory Retirement System hired ABS Investment Management and Acadian Asset Management to run about $5 million each in active emerging markets equities.
The $273 million pension fund's board approved the hirings at its June 21 meeting, said Barbara A. Sheehan, pension fund director, in an email.
The pension fund issued an RFP in November to add more exposure to emerging markets in the pension fund's international equity asset class; no managers are scheduled to be terminated.
The other finalist was RBC Global Asset Management.
As of March 31, the pension fund's actual allocation to international equity was 18.5%; the target is 19.8%.
Investment consultant Fiducient Advisors assisted.
